Merhaba! I am Shun Yoshida from Tokyo Consulting Firm Turkey Office.
I shared about “New Free-Trade Zone Specializing in R&D” last week.
This week I would like to mention information about “Individual Income Tax” for the year of 2020. According to the Official Gazette 30971 announced on December 7th, 2019, there has been a change in the tax brackets compared to the previous year in terms of the addition of segment for high-income population with the income over 600,001 TRY.
The tax brackets and rates are as follows:
| Taxable Income | Fixed Tax Amount | Tax Rate on Excess Amount |
| Up to 22,000 TRY | － | 15％ |
| 22,001 TRY – 49,000 TRY | Up to 22,000 TRY：3,300 TRY | 20％ |
| 49,001 TRY – 120,000 TRY | Up to 49,000 TRY：8,700 TRY | 27％ |
| 120,001TRY – 600,000 TRY | Up to 120,000 TRY：27,870 TRY | 35％ |
| Over 600,001 TRY | Up to 600,000 TRY：195,870 TRY | 40% |
That is all for this week.
We also offer free-of-charge meeting(online/offline) regarding establishment and business development in Turkey.
If you have any question other than the above, please feel free to contact us.
Thank you very much for your time read until the end.
東京コンサルティングファーム・トルコ拠点
吉田瞬
※）記載しました内容は、作成時点で得られる情報を基に、細心の注意を払って作成しておりますが、その内容の正確性及び安全性を保障するものではありません。当該情報に基づいて被ったいかなる損害についても情報提供者及び弊社（株式会社東京コンサルティングファーム並びにTokyo Consulting Firm Private Limited, Tokyo Consulting Firm Human Resources Private Limited）は、一切の責任を負うことはありませんので、ご了承ください。
